Trader Turns $9K into $282K Tracking CZ's Wallet
A trader turned $9,600 into over $282,000 in under five hours by tracking the wallet of Changpeng 'CZ' Zhao and buying MARSCOIN tokens immediately after a burn transaction.
On August 16, CZ's wallet sent 4,444 MARSCOIN to a dead address on BNB Chain with a gas fee of a fraction of a cent. The next block saw another wallet buy 84.6 million MARSCOIN using 16 BNB, worth around $9,600 at the time.
The trader paid nearly $10 in gas, hundreds of times above normal rates, to secure this position ahead of others reacting to the burn. They did not wait to see where the price went; instead, they sold half their position, 42.3 million tokens, for about 16.4 BNB.
Lookonchain described it as a '2x and take out the initial investment' move, which made the rest of the position risk-free no matter what happened next. The trader gradually sold the remaining tokens in dozens of smaller transactions, letting MARSCOIN climb while they cashed out in pieces.